AIS-TIS


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Income Tax Department has rolled out the new Annual Information Statement (AIS) on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback.

WHAT IS ANNUAL INFORMATION STATEMENT (AIS) ?

The new AIS includes additional information relating to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information etc. The reported information has been processed to remove duplicate information. Taxpayers will be able to download AIS information in PDF, JSON, CSV formats.

The display of Form 26AS on TRACES portal will also continue in parallel till the new AIS is validated and completely operational.

HOW TO MAKE CORRECTION IN AIS ?

1. If the taxpayer feels that the information is incorrect, relates to other person/year, duplicate etc., a facility has been provided to submit online feedback.

2. An AIS Utility has also been provided for taxpayers to view AIS and upload feedback in offline manner.

WHAT IS TAXPAYER INFORMATION SUMMARY (TIS) ?

TIS shows the processed value (i.e. the value generated after deduplication of information based on pre-defined rules) and derived value (i.e. the value derived after considering the taxpayer feedback and processed value). If the taxpayer submits feedback on AIS, the derived information in TIS will be automatically updated in real time. The derived information in TIS will be used for pre-filling of Return.

SOME IMPORTANT POINTS:

1. Annual Information Statement (AIS) includes information presently available with the Income Tax Department. There may be other transactions relating to the taxpayer which are not presently displayed in AIS. Taxpayers should check all related information and report complete and accurate information in the Income Tax Return.

2. In case there is a variation between the TDS/TCS information or the details of tax paid as displayed in Form26AS on TRACES portal and the TDS/TCS information or the information relating to tax payment as displayed in AIS on Compliance Portal, the taxpayer may rely on the information displayed on TRACES portal for the purpose of filing of ITR and for other tax compliance purposes.